Miner Vedanta Resources is close to finalising a deal to buy a majority stake in Cairn Energy's Indian unit, Cairn India, sources close to the matter said toiday.

Miner Vedanta Resources is close to finalising a deal to buy a majority stake in Cairn Energy's Indian unit, Cairn India, sources close to the matter said on Friday.

Vedanta is set to buy a 51-per cent stake in the Indian unit from Edinburgh-based Cairn Energy for between $8 billion and $8.5 billion, one of the sources said, representing a premium of around 20 per cent to Cairn India's closing price on Thursday.